Wednesday, October 6, 2010

Savings is a virtue

A good saving habit helps you build a nice cushion for your future needs. Especially if you are able to start saving early in life, the financial risk minimizes in future. Savings and investments should be an integral part of anyone's life. You should have a proper discipline and set certain goals while starting investments. Savings over time helps getting your financial plans in shape.

As a kid I had an opportunity to start saving early in life. Thanks to my Grand Ma who insisted me the saving habits early in my life. She used to lecture me the importance of money and saving habits and I could no way deny her facts. Soon she became my banker, a weird banker where deposits alone are approved quickly and withdrawals can never even be considered. And If I ask for a withdrawal she would take me to a guilty ride of not saving and teach me the value of money and would explain the downside of being a spend thrift. So I indeed left the savings part with her to take care of it all by herself. As a matter of fact my needs were very much limited, I never indulged myself into desperately getting something at that time. And then there was not any "Apple" products or any gadgets lined up like nowadays. My desires were very much low and my grand ma fulfilled all of it out of her pocket rather than touching my money.

Interestingly, my family members have this nice habit of giving money to all the kids when it comes to birthdays or any occasions rather than gifting toys. So I earned certain amount each year. It reminds me how I used to count the money and love to feel all of it. When I had accumulated enough money at some point , one of my aunt stepped forward and said she would borrow the money and would provide interest for that amount. I am pretty sure she never needed my savings as she's always good with her finances. Just to encourage my saving habits and wanted to help my money grow still further, she throwed down the idea. Who would not love the idea? As she is a perfect finance person, I agreed. My money grew year after year and my aunt took care of my money for certain time and then passed to my brother. And now its still with my brother.

I would not have thought about savings without these people in my life. And when I did I thoroughly enjoyed each moment of saving every penny. I am not sure whether I noticed the value of the currencies as a kid but I loved the fact that my money is growing every year. Especially gifting someone you value, from your savings is an amazing feeling. It's such a fulfilling moment as it is bundled with both your love and your money for that person.

All credit goes to my grand ma, aunt and my brother who encouraged my saving habits which really helps me to continue even now. Like me, may you all have a strict banker, a genuine borrower and a safe holder of your hard earned money and savings. Few points to have in mind on savings :

Start saving early in life. Teach your kids about the value of money and the importance of savings.

Don't hesitate to start with the little amount of money. Always remember money grows over a period of time.

Set your financial goals and plan accordingly. According to your risk appetite, you can invest in stocks and in mutual funds.

Like the Walmart caption goes "Save Money. Live Better", treat your money with more love.


  1. Hope many a kids read this. Good one.

  2. Thanks Prasan. I am glad you liked the post. Appreciate your time to comment.